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The Russian finance ministry has reportedly proposed banning the circulation of Cryptocurrencies in the nation. While the global cryptocurrency market cap was trading lower, falling to US$1.17 trillion as it lost as much as 2 percent in the last 24 hours. Chief Strategy Officer of Binance, Patrick Hillmann, has quit the cryptocurrency exchange, he said in a tweet on Thursday. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.
Bitcoin dipped over a percent and slipped below the US$ 30k mark, while Ethereum posted similar drops of 2 percent and hovered near the US$1,900 level. Other popular altcoins — including the likes of Dogecoin (DOGE), Cardano (ADA), and Ripple (XRP)— landed in the red as overall prices saw mixed reactions across the board. The global cryptocurrency market cap was trading lower, falling to US$1.17 trillion as it lost as much as 2 percent in the last 24 hours.
The billionaire founder of crypto's most prominent exchange Binance Holdings Ltd. Sought to defend the platform following the exits of executives helping the company navigate a widening regulatory crisis, reported Bloomberg.
Changpeng 'CZ' Zhao said, "We continue to BUILD and continue to hire" in a tweet on Friday after Binance's chief strategy officer, general counsel. A compliance official departed, stirring fresh questions about the outlook for an exchange facing US, Europe, and Asia Pacific probes.
The Russian finance ministry has reportedly proposed banning the circulation of crypto in the nation but wants to make exceptions for stablecoin issuers and crypto miners.
Per Frank Media, sources "familiar with the matter" told the news agency Interfax that the proposals could be bundled with the much-delayed crypto mining legalization bill and have already been drafted.
The ministry wants to pass legislation that officially allows industrial miners to operate in the country. Russia's crypto mining sector is already highly advanced due mainly to the nation's rich energy resources and cold winter climate.
Crypto exchange Bitfinex said it worked with authorities to recover about US$315,000 in cash and cryptocurrencies stolen in a 2016 attack on its platform.
The US Department of Homeland Security recovered the funds as part of an ongoing prosecution of individuals connected to the hack, British Virgin Islands-based Bitfinex said in a statement on Thursday. Almost 120,000 Bitcoins were stolen, valued at around US$72 million. The haul is worth roughly US$3.7 billion at the current market price.
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